Daiwa Securities Group Inc. Sells 3,491 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Daiwa Securities Group Inc. trimmed its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRNFree Report) by 17.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,307 shares of the biotechnology company’s stock after selling 3,491 shares during the quarter. Daiwa Securities Group Inc.’s holdings in BioMarin Pharmaceutical were worth $1,424,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BMRN. Vanguard Group Inc. boosted its position in shares of BioMarin Pharmaceutical by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 18,050,062 shares of the biotechnology company’s stock worth $1,740,387,000 after acquiring an additional 348,852 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of BioMarin Pharmaceutical by 79.0% during the 4th quarter. Capital Research Global Investors now owns 10,774,641 shares of the biotechnology company’s stock valued at $1,038,907,000 after purchasing an additional 4,756,671 shares during the last quarter. Avoro Capital Advisors LLC grew its position in shares of BioMarin Pharmaceutical by 11.7% during the fourth quarter. Avoro Capital Advisors LLC now owns 4,300,000 shares of the biotechnology company’s stock valued at $414,606,000 after purchasing an additional 450,000 shares in the last quarter. Norges Bank bought a new stake in shares of BioMarin Pharmaceutical in the fourth quarter worth about $324,098,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of BioMarin Pharmaceutical by 33.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,605,983 shares of the biotechnology company’s stock worth $154,850,000 after buying an additional 401,152 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BMRN. Citigroup cut their price target on BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Wells Fargo & Company upped their price target on shares of BioMarin Pharmaceutical from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Cantor Fitzgerald reiterated an “overweight” rating and set a $110.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, April 25th. Baird R W downgraded shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a report on Friday, May 17th. Finally, Morgan Stanley lowered their price target on shares of BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating for the company in a report on Friday, April 26th. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.37.

Get Our Latest Stock Analysis on BMRN

BioMarin Pharmaceutical Trading Up 0.4 %

NASDAQ BMRN opened at $82.98 on Wednesday. BioMarin Pharmaceutical Inc. has a 12 month low of $73.68 and a 12 month high of $99.56. The company’s 50-day moving average price is $80.86 and its 200-day moving average price is $86.54. The stock has a market cap of $15.76 billion, a PE ratio of 77.55, a PEG ratio of 1.16 and a beta of 0.32. The company has a current ratio of 2.74, a quick ratio of 1.70 and a debt-to-equity ratio of 0.12.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Free Report) last issued its earnings results on Wednesday, April 24th. The biotechnology company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.12. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.34%. The business had revenue of $648.83 million for the quarter, compared to the consensus estimate of $649.75 million. Equities research analysts forecast that BioMarin Pharmaceutical Inc. will post 1.99 earnings per share for the current year.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 1,850 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $85.01, for a total value of $157,268.50. Following the completion of the sale, the executive vice president now directly owns 56,157 shares in the company, valued at approximately $4,773,906.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Brian Mueller sold 5,000 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $75.19, for a total transaction of $375,950.00. Following the transaction, the chief financial officer now directly owns 72,159 shares of the company’s stock, valued at $5,425,635.21. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP George Eric Davis sold 1,850 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $85.01, for a total transaction of $157,268.50. Following the completion of the transaction, the executive vice president now directly owns 56,157 shares of the company’s stock, valued at approximately $4,773,906.57. The disclosure for this sale can be found here. Insiders have sold 87,700 shares of company stock worth $7,034,552 in the last ninety days. 1.85% of the stock is owned by company insiders.

About BioMarin Pharmaceutical

(Free Report)

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.

See Also

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Institutional Ownership by Quarter for BioMarin Pharmaceutical (NASDAQ:BMRN)

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